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Stories of Interest
- White House Now Doesn’t Dispute Details of Trump's Call with Army Widow
- Goldman Sachs’ Lloyd Blankfein Just Threw Some Serious Brexit Shade
- Guggenheim Partners ‘Bank Wrecker’ Could Get $100Mn Exit Package
- Proposed Arbitration Rule Change: For Customers Dealing with an Inactive Firm or Associated Person
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
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Wall Street News
Looking Beyond the 4.5% 'Official Unemployment Rate'
The Bureau of Labor Statistics reported today a drop in the national unemployment rate to a healthy 4.5%. So why are are analysts saying the unemployment numbers, along with news of the air strike on Syria, are depressing stock market prices?
That's because, the official unemployment rate of 4.5%, referred to as the "U-3" rate and defined as "total employed, as a percent of the civilian labor force," is not what economists use as an indicator of the nation's economic health.
Instead, they use the "U-6" rate, defined as all unemployed (those included in the 'U-3' rate), "plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force." That statistic stands at 8.9%, which remains above the levels before the recession.